Daily Alert: Yields continue to climb in FOMC aftermath

  • Risk sentiment has mostly been on the front foot overnight, at least in North America, but the real story remains the ongoing climb in bond yields following on from yesterday’s FOMC minutes
  • Comments from James Bullard have struck a re-enforced message overnight, saying the Fed is ‘behind the curve’ and supporting a 3.25% Fed Funds rate by the end of the year
  • The upshot has seen longer term US Treasury yields head further north to three-year highs

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